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Stock Option Plans and Stock Based Compensation Level 3 (Tables)
 12 Months Ended
Dec. 31, 2020
Stock Option Plans and Stock Based Compensation [Abstract]  
Share-based Payment Arrangement, Restricted Stock Unit, Activity
The following is a summary of Company’s RSU and PSU plan activity for the year ended December 31, 2020:
Hexion Holdings Common RSUsWeighted Average Grant Date Fair ValueHexion Holdings Common PSUsWeighted Average Grant Date Fair Value
Nonvested at December 31, 2019
1,034,100 $15.37 2,412,894 $11.97 
Units granted882,422 $15.80 823,619 $15.80 
Units forfeited(16,348)$15.80 (12,194)$15.80 
Units vested(381,366)$15.41 — $— 
Nonvested at December 31, 2020(1)
1,518,808 $15.60 3,224,319 $12.93 
(1)Nonvested shares include shares awarded to associates related to discontinued operations.
Share-based Payment Arrangement, Performance Shares, Activity
The following is a summary of Company’s RSU and PSU plan activity for the year ended December 31, 2020:
Hexion Holdings Common RSUsWeighted Average Grant Date Fair ValueHexion Holdings Common PSUsWeighted Average Grant Date Fair Value
Nonvested at December 31, 2019
1,034,100 $15.37 2,412,894 $11.97 
Units granted882,422 $15.80 823,619 $15.80 
Units forfeited(16,348)$15.80 (12,194)$15.80 
Units vested(381,366)$15.41 — $— 
Nonvested at December 31, 2020(1)
1,518,808 $15.60 3,224,319 $12.93 
(1)Nonvested shares include shares awarded to associates related to discontinued operations.
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
The following is a summary of the new stock based compensation plans issued after Emergence and their related outstanding shares as of December 31, 2020:
Plan NameGrant Date
Shares Outstanding(1)
Plan ExpirationVesting Terms/StatusNumber of Shares Authorized
Hexion Holdings Corporation 2019 Omnibus Incentive PlanAugust 20297,635,389 
Restricted Stock Units (“RSUs”) and Performance Stock Units (“PSUs”):
2019 Grants
RSUsSeptember 20191,034,100Time-vest ratably over 3 years, but must be employed on July 1, 2022 in order to receive shares; Accelerated vesting upon change in control.
PSUsSeptember 20192,412,894Performance based with market conditions: Step vest over 4 years based on a 20 consecutive trading-day volume weighted average price per share from $20 to $30 per share. PSUs that vest by June 30, 2022 will be settled in July 2022 and remaining PSUs that vest by June 30, 2023 will be settled in July 2023.
2020 Grants
RSUsMarch 2020692,441Time-vest ratably over 3 years; Accelerated vesting upon change in control.
PSUsMarch 2020811,425Performance based: 50% vest upon achievement of adjusted return on invested capital targets as of December 31, 2022. 50% vest upon achievement of Hexion Segment EBITDA Margin targets as of December 31, 2022. PSUs that vest will be settled in July 2023.
2020 Non-employee Grants
RSUsJanuary 202073,332Time-vest ratably over 3 years; Accelerated vesting upon change in control. Settled upon vesting.
RSUsAugust 202060,664100% vest on June 1, 2021; Accelerated vesting upon change in control. RSUs that vest will be settled upon the date the non-employee director leaves board service.
(1)Shares outstanding includes shares awarded to associates related to the Held for Sale Business.